Nifty above Agni level - Signal to buy

Today(9-7-09) Nifty stayed in the range 4040 and 4115 moving up and down, crossing the last day closing point a large number (more than 8)of times and at the end closed flat at 4081. Hence, Nifty's close today is above the Agni level for tomorrow at 3971. Therefore, it is a buy and hold tomorrow, provided Nifty does not stoop below 3971. As the quarterly results of Infosys Technologies is due for tomorrow morning, place tight stop loss for longs.

Nifty in Shadjam

As mentioned in the post dated 17-6-2009 under the caption "Down movement to Shadjam level started !!!" (It was explained earlier also) Nifty today (8-7-09) closed at 4079 in Shadjam band width (Low:3790, Centre:3968, High: 4100) with a loss of 123 points. Even though an up move was expected if Nifty moves above Agni level 4230 it did not materialise. Instead of that, Nifty opened with a loss of 69 points and the loss further increased to 141 points by 10.30 a.m. At that time Nifty was at 4061 and Nifty futures at 4054 (today's Surya level). At 14.11 Nifty was at 4137 and it gave an impression that Nifty may close above 4100 but, it moved downwards swiftly and closed near today's low at 4079. Tomorrow's Agni level has decreased to 4111 and if Nifty moves above that a small bounce back can be expected. Other wise Nifty may continue its down ward move to the bottom of Shadjam band width.

A minor up swing on the anvil ?

After yesterday's jumbo crash of 258 points, Nifty was range bound between 4155 and 4230 today (7-7-09) and closed at 4202 with a gain of 36 points. As tomorrow's Agni level is at 4230 it is likely that Nifty may give buy signal by moving above that point. If it moves above 4230, shorts is to be covered for getting opportunity to short again near upper band of Sudha Rishabham ie. near 4348.

Full moon effect today itself - Nifty down 1 level (256 points)

After starting Vipani Sangeetham, Nandi had not seen such a fall as of today (6-7-09). Nandi had given 4700- 4100 range for the day in the last post dated 5th July, 2009 based on calls and puts position and Nifty low for the day was 4134. Nifty closed the day at 4166 with a loss of 258 points, which is more than one level (256 points)in the music scale. Hence many swaras shown on the left top comprises of two levels which was never occurred earlier. Nandi had in his last post mentioned the ill effects of full moon and today's fall is similar to that had occurred on full moon day in January, 2008. As the fall is as anticipated in the earlier posts nothing more to add. Watch the Agni level and trade accordingly.

Monday the Budget day - Nifty will be highly volatile

Friday (3-7-09) Nifty closed at 4424 with a gain of 75 points. Up move came in after 13.40 only (Nifty was at 4341 at that time)and went up to 4434 by 15.00. Being the Budget day, on Monday Nifty will be highly volatile. Risk averse traders stay away for the day after 11.00 a.m. Nifty is likely to move up maximum to 4700 (addition of 38 lakhs calls on Friday)and the low can be 4100 (addition of 13 lakhs puts on Friday). Within one or two days, after reaching the maximum, Nifty may start its downward move as mentioned earlier. Please note that Tuesday the 7th July is a full moon day, the day many large falls took place in earlier occasions. Watch the Agni level and trade accordingly. New visitors to Vipani Sangeetham may please note to avoid any purchases when Nifty is below the Agni level.

Brief up moove can be expected.

The negative effect of petrol price hike didn't bring down Nifty today(2-7-09) even to the yesterday low of 4250. Today's low was 4289 and the close was at 4349 against yesterday close at 4341. After volatile movements in the range 4384 and 4289, during 14.00 and 14.30 Nifty was idling at 4320. Then there came a sudden surge which took Nifty to 4366, reason may be known only to some big traders. Nandi do not agree to the usual explanation of "short covering" as told in media. Nandi wanted the answer why short covering was necessitated. What ever may be the reason, that surge enabled Nifty to close flat and bring down Agni level to 4364, a level which is lower than today's three time highs. Hence, tomorrow Nifty is likely to move above Agni level making us to cover our shorts and go long. One thing that baffles Nandi is the changeless position of Soma-Surya levels for the last three days and the frequent shift in the direction of Nifty. It may perhaps due to the brief direction change in Nifty within the broad downward direction, that might have generated on the eve of new UPA government's first Budget that will be presented to the Parliament next week.

Nifty just touched Agni level and receded

Today's (1-7-09) Nifty movement was highly volatile in the range 4250 - 4362. The Nifty position and the relative time are : 4320 (10.00)- 4338 (10.50)- 4250 (11.50) - 4357 (13.00) - 4306 (14.00) - 4362 (14.30)- 4314(15.00) - 4341 (16.00). Nifty high was 4362 just below the Agni level at 4365 and closing was at 4341 below the Agni level. At 14.30 Nifty futures touched the Agni level 4365 and receded. Tomorrow Agni level is at 4401 and as on today Nifty may not cross that level.
As Government of India has hiked petrol prices by Rs.4.00 per liter effective from 12.00 midnight today, it may have an impact on the Nifty opening on tomorrow.